Medical Carts Market Trends

Growth Drivers

• Easy Availability of Critical Medical Supplies - In light of the current circumstances, the medical devices industry groups have been urged to lower the retail costs of essential medical equipment. All medical devices are now subject to price control under the Drugs (Prices Control) Order (DPCO), 2013, which will take effect on April 1, 2020. Owing to the sudden surge in cases of covid19 to make medical facilities available to the general public became a need. Critical medical supplies were made available at an effective price which also includes medical devices such as carts. Hence owing to this the growth of the market is expected to boost in the forecast period.
• Increasing Adoption of ERP to prevent Medical Errors -Directors and managers at healthcare organizations concur that moving ERPs to the cloud produces ease, system dependability, improved security, and greater efficiencies.
• Increased Expenditure on Healthcare - According to the suggestion given by 17 countries, the spending on health increased by 6% on average in 2021. 
• Technology Advancement in Healthcare - The 71st World Health Assembly adopted a unanimous resolution on digital health, which MoHFW has campaigned to advance. This resolution prioritizes digital health globally.
• Increasing Demand for Point-Of-Care Diagnostic Technology - The point-of-care testing industry brought in about 13.87 billion dollars in sales in 2017. By the year 2026, the size of this medical carts market is anticipated to reach $23.9 billion.

Challenges

• Underqualified Workforce - Underqualified workforce is expected to restrain the growth of the market. Several medical carts require training or certification to operate. Given the possibility that unskilled workers won't be able to manage the operation effectively, the money allocated for medical carts is constrained. Research reveals that healthcare employment is undervalued precisely as it is identified with "women's work" as of 2019 when 79% of employees in the sector were female.
• High Maintenance Cost
• High Initial Capital Investment